Oil Train Disaster Settlement up for Final Approval

PORTLAND, Maine - A bankruptcy judge in Maine is set to rule on a $338 million settlement fund for victims of a fiery train derailment that claimed 47 lives in Quebec.

The U.S. bankruptcy trustee wants the judge to approve the plan Thursday so money can begin flowing to those who were harmed by the disaster. But several parties - including Canadian Pacific - are urging the judge to reject the deal.

Much of downtown Lac Megantic, Quebec, was destroyed when the runaway train with 72 oil tankers derailed on July 6, 2013.

The railroad contends it bears no responsibility and says the deal would hinder its ability to defend itself against lawsuits. Bankruptcy trustee Robert Keach says CP is trying to hold up payments to provide leverage to negotiate a lower contribution.